UK's Topps Tiles soars on higher Q3 adjusted sales

Topps Tiles

02/07/2025 09:32

** Shares of British tile retailer Topps Tiles TPT.L rise 9% to 36.98p, top pct. gainer in FTSE Small Cap index .FTSC

** Posts 10.1% growth in Q3 adjusted sales vs 4.1% growth in H1

** Expects H2 adjusted gross margin to be slightly higher than H1

** Co also expects the recently acquired CTD Tiles business to at least break even by Q4

** "Topps Group looks to be in great shape, in our view, with a widening footprint across domestic tiles (Trade and Retail), Online and Commercial, with market share being driven by self-help initiatives as well as acquisition," Peel Hunt analysts said in a note

** YTD, TPT stock down 2.68%

(Reporting by Unnamalai L in Bengaluru)

((Unnamalai.L@thomsonreuters.com;))